Evercore Readies 'Variety' For Sale

There are reportedly 11 potential suitors for Reed Business Information's Variety, according to a source from investment bank Evercore Partners, which is handling the sale of the iconic
entertainment mag, writes Daniel Frankel.

"CEO Mark Kelsey said that with the sale of Variety, RBI will have completely exited the U.S. magazine market, having divested over
150 print titles across 14 countries in 26 separate transactions, products that represented 45 percent of its portfolio as of 2008," according to Frankel.